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Mexico: Cinemark blocked from straining cinema competition

By  |  August 12, 2013
Mexico: Cinemark blocked from straining cinema competition

US-based cinema chain Cinemark has reportedly been blocked by regulators from selling its Mexico-based chain to Cinemex, one of its largest rivals. Reports say Mexico’s Federal Competition Commission found that the sale of Cinemark’s 290 screens would have left the nation with only two major competitors in the sector; the FCC voted 3-to-2 in favor of blocking the transaction. Mexico’s current leader in the cinema market, Cinepolis, currently controls about 66 percent of the sector; with approval, Cinemex would have climbed to ownership of about 31 percent. Chinemark said it would appeal the ruling.

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    Full Content: Hollywood Reporter

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